January 6, 2022
US Federal Reserve officials signalled a faster timetable for raising interest rates this year, potentially as soon as in March, amid greater discomfort with high inflation.
Minutes of their December meeting released yesterday, showed officials believed that rising inflation and a very tight labor market could call for lifting short-term rates “sooner or at a faster pace than participants had earlier anticipated.”
Some officials also thought the Fed should start shrinking its $8.76 trillion portfolio of bonds and other assets relatively soon after beginning to raise rates, the minutes said.
Most central bank officials, in projections released after that meeting, penciled in at least three quarter-percentage-point rate increases this year. In September, around half of those officials thought rate increases could wait until 2023
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